Query Rules & Regulations Results

Rule No.

Rule Title

2090.5

Debits to an Exchange Wagering Account

Rule Text

Debits to an exchange wagering account shall be made as follows:
(a) Upon receipt by the exchange provider of an exchange wager properly placed, the provider shall determine whether there are sufficient funds in the account holder's wagering account to cover the maximum amount the account holder could be liable for based on the wager. If so, the wager shall be accepted. The exchange provider will debit the account holder's account the total maximum amount which the account holder could be liable for based on all exchange wagers placed by the account holder on races which have not yet been declared official.
(b) Wagers shall be accepted only during days and times designated as operating by the exchange provider.
(c) The exchange provider may at any time declare the system closed for receiving any wagers on any race or closed for all exchange wagering.
NOTE: Authority cited: Sections 19420, 19440, 19590 and 19604.5, Business and Professions Code. Reference: Sections 19593 and 19604.5, Business and Professions Code.
HISTORY:
1. New rule filed 8-6-13; effective 8-6-13.